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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash Flows from Operating Activities      
Net income (loss) $ (99,364) $ 81,945 $ (268,492)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Loss (gain) on debt modification and extinguishment, net 1,932 (10,896) 5,247
Depreciation and amortization, net 345,062 365,654 383,703
Asset impairment 23,003 107,308 49,266
Equity in (earnings) loss of unconsolidated ventures (10,394) 2,107 4,544
Distributions from unconsolidated ventures from cumulative share of net earnings 6,191 766 3,472
Amortization of entrance fees (1,758) (2,122) (1,634)
Proceeds from deferred entrance fee revenue 3,562 734 3,544
Deferred income tax (benefit) provision (9,837) (5,840) (2,654)
Operating lease expense adjustment (23,280) (136,276) (19,453)
Loss (gain) on sale of assets, net (288,835) (374,532) (7,245)
Loss (gain) on facility operating lease termination, net (2,003) (2,303) 3,388
Non-cash stock-based compensation expense 16,270 20,747 23,026
Non-cash management contract termination gain 0 0 (969)
Other (4,689) (2,777) (8,700)
Changes in operating assets and liabilities:      
Accounts receivable, net 502 24,277 292
Prepaid expenses and other assets, net (15,483) 24,707 55,873
Trade accounts payable and accrued expenses (54,032) 27,294 (12,984)
Refundable fees and deferred revenue (10,066) 62,614 (25,117)
Operating lease assets and liabilities for lessor capital expenditure reimbursements 30,965 22,242 31,305
Operating lease assets and liabilities for lease termination (2,380) 0 0
Net cash provided by (used in) operating activities (94,634) 205,649 216,412
Cash Flows from Investing Activities      
Change in lease security deposits and lease acquisition deposits, net (100) 3,569 (859)
Purchase of marketable securities (362,257) (378,269) (186,224)
Sale and maturities of marketable securities 352,988 275,000 134,000
Capital expenditures, net of related payables (176,657) (185,871) (304,092)
Acquisition of assets, net of related payables and cash received 0 (472,193) (497)
Investment in unconsolidated ventures (5,436) (4,082) (4,346)
Distributions received from unconsolidated ventures 37,113 0 9,635
Proceeds from sale of assets, net 334,006 331,316 92,735
Proceeds from notes receivable 1,800 5,419 34,109
Net cash provided by (used in) investing activities 181,457 (425,111) (225,539)
Cash Flows from Financing Activities      
Proceeds from debt 352,962 963,099 321,996
Repayment of debt and financing lease obligations (441,571) (538,859) (427,923)
Proceeds from line of credit 0 166,381 0
Repayment of line of credit 0 (166,381) 0
Purchase of treasury stock, net of related payables 0 (18,123) (23,955)
Purchase of capped call transactions (15,916) 0 0
Payment of financing costs, net of related payables (3,904) (19,649) (7,309)
Payments of employee taxes for withheld shares (4,820) (4,037) (3,313)
Other (408) 482 1,110
Net cash provided by (used in) financing activities (113,657) 382,913 (139,394)
Net increase (decrease) in cash, cash equivalents, and restricted cash (26,834) 163,451 (148,521)
Cash, cash equivalents, and restricted cash at beginning of period 465,148 301,697 450,218
Cash, cash equivalents, and restricted cash at end of period $ 438,314 $ 465,148 $ 301,697